By: Mahmoud Gamal
Dubai – Mubasher: Drake and Scull International’s (DSI) stock rose in Monday’s trading session, following the announcement of a plan to pay its debts in the coming years.
DSI rose 0.6% to AED 0.339, generating AED 2.48 million from the exchange of 7.29 million shares.
The company announced earlier its plan to repay AED 1 billion worth of debts over the coming four years, according to sources.
Positive news regarding the company’s repayment plan increased optimism about its position, Fady Al-Ghattis, CEO of Think Financial Studies, told Mubasher.
DSI should confirm this news to change investors’ outlook for its performance, Al-Ghattis added.
The company’s stock saw strong purchases which may push it higher to AED 0.400 on the medium term, technical analyst Mohamed Kamal.
Translated by: Julian Nabil
